News Details

Transworld Group sets up Avana Logistek

Aim is to be an integrated logistics service provider offering multiple solutions under one roof/one brand, says Mr Ritesh S. Ramakrishnan, Joint Managing Director

 

The Transworld Group has rebranded Shreyas Relay Systems Ltd and Balaji Shipping Line FZCO, giving birth to Avana Logistek Ltd to consolidate under one brand all its supply chain and logistics activities. According to Mr Ritesh S. Ramakrishnan, Joint Managing Director of the company, the name is derived from the Sanskrit word Avani, which means the earth. It also symbolises being rooted. Ava and Ana are the prefix and suffix in Sanskrit, while in English they denote aviation and navigation. Thus, Avana Logistek, like the earth, encompasses multiple things in its fold, and is expected to give a fillip to the overall activities of the group. In an exclusive interaction with Exim India, Mr Ritesh S. Ramakrishnan elaborates on the reason behind the founding of Avana, its core competencies and the way ahead for the group.

 

Transworld Group has formed a new company called Avana Logistek. What is the focus of its activities?

 

Yes, we have announced a new company called Avana Logistek which will cover the entire supply chain and logistics activities of our group. So that means our coastal division, Shreyas Relay Systems, will now become Avana Coastal. And our NVOCC division, Balaji Shipping Line FZCO, will be Avana Global. Likewise, we are entering into the cold chain and warehousing and distribution business all under the Avana brand. We want to bring our entire supply chain and logistics business under one roof to provide a single window service to our customers.

 

Does this mean that Shreyas Relay Systems and Balaji Shipping Line will no longer exist?

 

As I said, Shreyas Relay Systems will now become Avana Coastal and Balaji Shipping Line will become Avana Global. With immediate effect.

 

What prompted the founding of this company?

 

The idea was to give the best possible service to our customers under a single brand so that our customers recognise that these key activities are part of one brand and one entity of our group. Under this brand and all its activities, we are offering integrated logistics solutions. If you observe, there is Logistek in our name. It indicates that technology and distribution will play a major role in the services offered. All the group companies will offer the best available digitised solutions using state-of-the-art IT.

 

Can you tell us something about the management team of Avana?

 

The management more or less remains the same and is based on corporate governance. There is Mr Ramesh S. Ramakrishnan as Executive Chairman and Mr S. Varadarajan as Managing Director. I am the Joint Managing Director, and we have Mr N. Gopal in Finance. The company will also be guided by its Independent Directors. Avana is an associate company of Shreyas Shipping and Logistics, which is a public listed firm.

 

How will Avana complement the other Transworld Group businesses?

 

The other group activities, among them being shipowning (container and bulk carriers), freight forwarding, ship management, shipping agencies, etc. will continue as before. For example, Shreyas Shipping, a leading coastal and regional shipping operator, will continue providing feeder services. Avana Logistek will definitely have synergy with the other verticals of the group.

 

How did the Transworld Group fare in the just-concluded fiscal? In which vertical do you see the most potential?

 

The last couple of years, as you know, have been quite tough and challenging. Looking ahead, we expect coastal cargo to grow further and, therefore, we see a lot of scope in coastal cargo movement. We believe that India domestically will continue to be a strong area of growth and we will look to increase our footprint with our newer verticals.

 

What are the plans for the current fiscal?

 

We are consolidating all our activities and upgrading our systems and services, IT capabilities, etc. in keeping with the changing times. The aim is to offer seamless and integrated logistics solutions to our customers.

EXIM INDIA PROFILE

click here!!

Search News

Currency Import Export
U.S.Dollar 72.52 71.50
U.K.Pound 93.38 91.39
Euro 82.83 81.36

As On 19th November, 2018

more forex rates...

Currency Import Export
U.S.Dollar 72.95 71.25
Sterling Pound 95.40 92.10
Euro 83.15 80.15

w.e.f. 16th November, 2018

more custom rates...

CURRENT EVENT